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Scotsman
a day ago
- Business
- Scotsman
Overdue invoices in Scotland drop to 2025 low, new R3 research shows
The number of overdue invoices on the books of Scottish businesses dropped to the lowest level in 2025 so far in April, according to new research from R3, the UK's insolvency and restructuring trade body. Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... R3's analysis of data provided by Creditsafe shows Scottish businesses had a total of 602,822 overdue invoices on their books in April 2025 – the lowest monthly total in 2025 so far. Overdue invoices numbers fell by 0.8% in April when compared to the previous month's total of 607,492. Compared to the rest of the UK, Scotland was one of only four regions or nations to see a monthly fall in overdue invoice numbers, along with Yorkshire (0.9% fall), Northern Ireland (0.6%) and the North East (0.2%). Advertisement Hide Ad Advertisement Hide Ad However, despite the fall compared to the rest of the 2025 figures, overdue invoice numbers in Scotland increased by 30.2% in April 2025 when compared to April 2024's total of 462,933, and by 46.5% compared to April 2023, when 411,438 overdue invoices were recorded. Tim Cooper Tim Cooper, Immediate Past President of R3 and partner at international law firm Addleshaw Goddard, says: 'There's no single reason behind the fall in overdue invoice numbers, but it suggests that on the whole, more businesses are being paid promptly and are managing their finances in a way that's helping them avoid building up payment backlogs than there were at the start of this year. 'However, while the drop in overdue invoices compared to the previous three month's figures is encouraging, this is only a modest drop against a significant and sustained increase in overdue invoices in the two years prior. We should therefore view these latest figures with caution: we don't yet know whether this recent drop will continue or be short-lived. 'For smaller businesses in particular, being paid on time can make a real difference to cash flow and financial stability. A drop in late payments, even a modest one, is welcome and while this development won't fix every challenge firms are currently facing, it may ease some pressure across the supply chain at a time when trading conditions remain tough. Advertisement Hide Ad Advertisement Hide Ad 'Cost pressures on businesses will have increased in April with the changes to Employers' National Insurance and the minimum wage, and the impact of these extra costs, at a time when confidence and demand are already weak, may take some time to filter through to the data. 'My advice to businesses that are struggling with late payments or cash flow concerns is simple – seek advice and seek it as early as possible. Doing so gives you more time to assess your options and take action before those options are no longer available to you.'
Business News Wales
a day ago
- Business
- Business News Wales
Overdue Invoices in Wales Hit 26-Month High
The number of overdue invoices on the books of Welsh businesses hit a 26-month high in April 2025, according to new research from R3, the UK's insolvency and restructuring trade body. R3's analysis of data provided by Creditsafe shows there were 156,775 overdue invoices on the books of Welsh businesses in April 2025 – the highest on record since February 2023's figure of 161,860, and a 19.2% increase on April 2024's total of 131,272. Overdue invoice numbers have risen consistently since November 2024, and April's figures were 1% higher than March's total of 155,279. Bethan Evans, Chair of R3 in Wales, said: 'Late payment levels in Wales have been high for some time, but their rise to the highest point in more than two years is a stark reminder of how difficult trading conditions have become. Late payment levels are now higher than they were in 2023 and 2024, when many businesses were grappling with the aftermath of COVID, rising costs, and the impact of the cost-of-living crisis. 'Further cost increases came into effect at the start of last month, including rises to Employers' National Insurance and the minimum wage, and these have been a major concern for businesses over recent months. Now that they're here, there's a real risk they could push more firms into cash flow difficulties, particularly in sectors already running on tight margins like construction, hospitality and retail.' The total number of Welsh companies with overdue invoices on their books also rose by 5.8% in April 2025 when compared to the same period last year, rising from 17,849 to 18,879. Bethan, who is a partner at Menzies LLP, continued: 'It's concerning to see not just that overdue invoice numbers are rising, but more businesses are finding themselves with overdue invoices on their books. When more companies are struggling to pay their bills on time, it has a knock-on effect across supply chains and makes it harder for others to stay on top of their own finances. 'April was a turning point for many businesses, and it's crucial that directors know how to spot the early signs of financial distress. If you're noticing problems like rising late or missed payments, falling margins, or mounting pressure from creditors, then it's likely time to speak to a professional. Seeking advice as soon as these issues arise can provide clarity, more time to address the situation, and potentially more options for resolving your concerns.'
Scotsman
2 days ago
- Business
- Scotsman
Overdue invoices in Scotland drop to 2025 low, new R3 research shows
The number of overdue invoices on the books of Scottish businesses dropped to the lowest level in 2025 so far in April, according to new research from R3, the UK's insolvency and restructuring trade body. Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... R3's analysis of data provided by Creditsafe shows Scottish businesses had a total of 602,822 overdue invoices on their books in April 2025 – the lowest monthly total in 2025 so far. Overdue invoices numbers fell by 0.8% in April when compared to the previous month's total of 607,492. Compared to the rest of the UK, Scotland was one of only four regions or nations to see a monthly fall in overdue invoice numbers, along with Yorkshire (0.9% fall), Northern Ireland (0.6%) and the North East (0.2%). Advertisement Hide Ad Advertisement Hide Ad However, despite the fall compared to the rest of the 2025 figures, overdue invoice numbers in Scotland increased by 30.2% in April 2025 when compared to April 2024's total of 462,933, and by 46.5% compared to April 2023, when 411,438 overdue invoices were recorded. Tim Cooper Tim Cooper, Immediate Past President of R3 and partner at international law firm Addleshaw Goddard, says: 'There's no single reason behind the fall in overdue invoice numbers, but it suggests that on the whole, more businesses are being paid promptly and are managing their finances in a way that's helping them avoid building up payment backlogs than there were at the start of this year. 'However, while the drop in overdue invoices compared to the previous three month's figures is encouraging, this is only a modest drop against a significant and sustained increase in overdue invoices in the two years prior. We should therefore view these latest figures with caution: we don't yet know whether this recent drop will continue or be short-lived. 'For smaller businesses in particular, being paid on time can make a real difference to cash flow and financial stability. A drop in late payments, even a modest one, is welcome and while this development won't fix every challenge firms are currently facing, it may ease some pressure across the supply chain at a time when trading conditions remain tough. Advertisement Hide Ad Advertisement Hide Ad 'Cost pressures on businesses will have increased in April with the changes to Employers' National Insurance and the minimum wage, and the impact of these extra costs, at a time when confidence and demand are already weak, may take some time to filter through to the data.
4 days ago
- Business
Overdue invoices in Wales reach 26-month high, warns insolvency trade body
THE NUMBER of overdue invoices owed by Welsh businesses has surged to a 26-month high, according to new data released by R3, the UK's insolvency and restructuring trade body. R3's analysis of Creditsafe figures reveals that Welsh firms had 156,775 overdue invoices on their books in April 2025 – the highest monthly total since February 2023, when the figure stood at 161,860. This marks a 19.2% increase compared to April 2024, when the total was 131,272. Overdue invoices have been rising steadily since November 2024, with April's figure up 1% from March's total of 155,279. Bethan Evans, Chair of R3 in Wales and a partner at Menzies LLP, said: 'Late payments have been a persistent issue in Wales, but the fact they've now reached the highest point in over two years underlines just how tough trading conditions have become. These levels are now exceeding those seen in 2023 and 2024, when many businesses were still recovering from the pandemic, facing soaring costs, and grappling with the wider cost-of-living crisis.' Evans noted that new financial pressures came into effect in April, including increases to the National Minimum Wage and Employers' National Insurance contributions. 'These additional costs are likely to exacerbate cash flow challenges, particularly for sectors already operating on thin margins – such as construction, hospitality, and retail,' she added. The number of Welsh companies with overdue invoices has also climbed. In April 2025, 18,879 businesses reported overdue payments – a 5.8% increase on the 17,849 recorded in April 2024. Evans warned that the ripple effects of late payments could be far-reaching: 'When more businesses struggle to pay their bills on time, it disrupts supply chains and increases the financial strain on others. April marked a critical point for many companies, and it's vital that directors can spot the early signs of financial distress. 'If you're seeing warning signs – such as rising late or missed payments, shrinking margins, or mounting pressure from creditors – it's time to seek advice. Acting early can offer a clearer path forward, more options, and a better chance of resolving financial difficulties.'
Fashion United
22-05-2025
- Business
- Fashion United
UK: Inflation rises in April yet clothing prices fall
Inflation rose for the month of April in the UK, as increased business rates associated with the government's Budget impacted consumer-facing prices. According to the Office for National Statistics (ONS), headline inflation rose 3.5 percent in the 12 months to April, up from 2.6 percent over 12 months to March. Things did improve for the clothing and footwear sector, however, which saw prices fall year-on-year, as promotions of summer apparel boosted spending. The category's inflation dropped to -0.4 percent in the year to April, down from 1.1 percent. This decreased even further when compared to the same month of last year. For April 2025, CPI was at -1.1 percent, down from last year's 0.4 percent. In a statement responding to the figures, Kris Hamer, director of insight at the British Retail Consortium (BRC), noted that costs from rising National Living Wages, Employers' National Insurance and rising costs of utilities had inevitably accelerated inflation in April. Hamer continued: 'For months retailers have been warning that rising costs would lead to higher prices. To mitigate this, the government must now find ways to help reduce business costs and regulatory burden. 'It is imperative that its Employment Rights Bill targets unscrupulous employers and avoids burdening responsible businesses with additional costs which could put retail job numbers into reverse.'
